The Inescapable Influence of Money on the Family Enterprise
Finance / Wealth Management

The Inescapable Influence of Money on the Family Enterprise

Thanks to FFI Fellow, Randy Waesche, Resource Management LLC, for focusing our attention on the concepts, impacts and effects of money on multi-generational companies – and for his suggestion that advisors and consultants to these enterprises pay more attention to this “inescapable influence.” Yours in Practice, The Practitioner The Inescapable Influence of Money on the … Continue reading

Prenuptial Agreements – Uncomfortable and Necessary
Issues in the Family Enterprise / Latest Thinking in the Field / Law / Wealth Management / Women in Family Business

Prenuptial Agreements – Uncomfortable and Necessary

You can find issues more uncomfortable than prenuptial agreements. But not many. For starters, people view prenups from amazingly different points of view. One of my granddaughter’s professors told her that asking anyone for a prenup was demeaning and exploitive and showed such a lack of trust that even asking would be grounds for breaking … Continue reading

Myths and Realities: Roles and their overlap
Accounting / Advising / Consulting / Family Business / Family Enterprise / Finance / Wealth Management

Myths and Realities: Roles and their overlap

The first in the August series on “Myths and Realities: Roles and their overlap.” Go here for Cathy Carroll’s article Myth: The Goal of Any Family Business is to Maximize Profits. Go here for Barry Goodman’s article Are the Myths Your Clients Believe about Value Hurting Their Family Business?       Continue reading

Myth: The goal of any family business is to maximize Profits
Accounting / Advising / Consulting / Family Business / Family Enterprise / Finance / Wealth Management

Myth: The goal of any family business is to maximize Profits

A case: One beautiful, sunny day, Edward, 73, sat back at his desk and assessed his life. He was living the dream—with one exception. He had several homes, a devoted second wife, and he spoke with his best friends every day. However, his business was failing. Over the past ten years, he had hired many … Continue reading

Are the Myths Your Clients Believe about Value Hurting Their Family Business?
Accounting / Advising / Consulting / Family Business / Family Enterprise / Finance / Wealth Management

Are the Myths Your Clients Believe about Value Hurting Their Family Business?

Your clients are savvy business owners. But are some of the beliefs they have about the value of their operations holding them back? See if these sound familiar. Myth 1: My business operates to support my family’s lifestyle, so value isn’t important. Operating a business for lifestyle purposes is different from operating for growth. However, … Continue reading

Estate and Wealth Planning for Family Enterprises: Reality — not myth — as the proper starting point
Finance / Governance / Wealth Management

Estate and Wealth Planning for Family Enterprises: Reality — not myth — as the proper starting point

The 2015 FFI Global Conference theme of “myths and realities” provides an excellent opportunity to focus attention on how best to advise family enterprises for the long-term success of the family and the enterprise. There are many myths to be found in the family enterprise field. In my experience, the ones that have the greatest … Continue reading